EL7.AI
CryptoMedium•24 February 2026•
1 min read

$700M in Long Liquidations Deepen Bitcoin Slide Below $63,000

Key Facts

1The total cryptocurrency market capitalization decreased by $150 billion.
2Bitcoin (BTC) price dipped below the $63,000 threshold.
3Bitcoin Cash (BCH) experienced the largest dump among large-cap cryptocurrencies.
4The PIPPIN token defied the overall market crash, continuing its upward trend.

The cryptocurrency market faced a severe sell-off, erasing approximately $150 billion from its total market capitalization. Bitcoin (BTC) fell below the critical $63,000 psychological support level, intensifying bearish sentiment across the board. New data reveals that a massive wave of long liquidations wiped out over $700 million from the market as prices tumbled, accelerating the downward move. Bitcoin Cash (BCH) led the decline among major assets, while the PIPPIN token bucked the trend by maintaining its upward momentum. Analysts attribute the slump to the failure of key technical levels and the cascading effect of forced liquidations on leveraged positions. The market remains in a state of high caution as investors search for a definitive price floor amid the volatility.